I have shortlisted a 2.5BHK flat in a society and paid a token amount. This is a resale property and i will become the 3rd owner if all falls in place. Stamp duty and registration not executed yet as bank need all documents for loan processing.
This flat belongs to a private firm and when we checked for all the documents for this flat we found that Sales Deed between 1st owner and 2nd owner was not done. However agreement to sale shows the payments were done and received by the 1st owner.
This is a 10 year old property.
Bank is asking for the sales deed between 1st owner and 2nd owner to proceed with the loan processing.
I am curious to know what are my options if current unable to execute the Sales Deed with First Owner.
Can i Still go ahead with purchase of this flat without old Sales Deed as there was no pending payments in last purchase as can be seen from agreement to sale ?
Hope to hear from you soon.